Plan to merge healthcare funds confirmed

Plan to merge healthcare funds confirmed

Middlefield Limited, on behalf of Global Healthcare Dividend Fund, has confirmed its intention to merge with Middlefield Global Healthcare Dividend Fund, as described in its initial public offering prospectus. The latter fund will be the one to continue.

The merger is expected to benefit holders of both funds by allowing for increased diversification and reduced general and administrative costs. The opportunity to hold units of the Middlefield Global Healthcare Dividend Fund, which is open-ended and allows daily purchases and redemptions at net asset value, will also be beneficial for unitholders of Global Healthcare Dividend Fund.

Completion of the fund merger is subject to multiple approvals, including approval from regulators and from unitholders of each fund. The process is projected to be completed on or around Dec. 20.

The investment objective of the continuing fund is maximized long-term, risk adjusted return from stocks of global issuers operating in, or deriving a significant portion of their earnings from, the healthcare industry.

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